Market insight and analysis
Insight is where the game is won and lost: without superior insight, winning over time is simply not possible. Here’s what two leading CMOs have to say:
Success means creating differentiation. This requires capturing “change insight” before rivals. The real battle is which organization “sees” the underlying change more incisively than the competition. Often this means changing the shared mental model of the company leadership. Answering questions such as these will help the successful marketing executive become the chief “understander” of the evolving marketplace:
Insight is where the game is won and lost: without superior insight, winning over time is simply not possible. Here’s what two leading CMOs have to say:
“The CMO role is getting the company to understand where the opportunities are, taking a very strong and upfront strategic approach so that the company invests where the opportunities lie and where the company has the capability to win,” said Joe Tripodi, chief marketing and commercial officer of The Coca-Cola Company.
“Great CMOs understand the customer," says Maureen McGuire, Bloomberg CMO. "They can imagine the future and understand what the world might look like three to five years from now. If you believe the CMO should be the accumulator, aggregator and ‘understander’ of customer data and be the one to conduct market research, then yes, the CMO needs to incubate and imagine the future and the new products and services.”*
Creating differentiation
Success means creating differentiation. This requires capturing “change insight” before rivals. The real battle is which organization “sees” the underlying change more incisively than the competition. Often this means changing the shared mental model of the company leadership. Answering questions such as these will help the successful marketing executive become the chief “understander” of the evolving marketplace:
- What are the pain points? What keeps people up at night?
- Who’s responsible for solving this pain point on the client side?
- Who might influence their thinking and decisions?
- Who would they call today to solve their problem?
- How do we compare and contrast to the other choices in the minds of the problem owners?
- What is the conventional approach the problem-solving owner can expect our competitors to take?
- How is our approach to solving this problem different?
- What incremental value does this provide to the client?
- What must we do to enable our clients to stand out?
- Why should they believe us? Facts, statistics, customer references, thought leadership.
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*“What Do You Want From Me? How High-Performing CMOs Exceed Expectations,” SpencerStuart, 2010
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